Page 18 - California Buyers & Sellers Guide
P. 18
FEES: WHO PAYS
FOR WHAT IN CALIFORNIA
Closing costs may be confusing. Let’s
break it down by buyer and seller cost.
THE SELLER TYPICALLY
PAYS FOR:
ü Real estate commission
ü Real Estate excise tax, if any
ü Any city transfer/conveyance tax*
ü Document preparation (if applicable)
ü Documentary transfer tax, if any
ü Payoff of all loans in seller’s name
ü Interest accrued to lender being paid off
ü Statement fees, reconveyance fees
and any prepayment penalties
ü Any judgments, tax liens, etc. against
the seller
ü Tax proration
ü Any unpaid homeowner’s dues
ü Recording charges to clear all
documents of record against seller
ü Any bonds or assessments
ü Any and all delinquent taxes
ü Mobile Notary fees, if any
ü Homeowner’s transfer fees
* Practice varies by county and will be detailed in PSA
Disclaimer: This article is not intended to be an all inclusive list of fees and charges on every transaction, but
rather a guide to the major costs of Buying or Selling real estate property. We would be happy to review and
explain your closing costs prior to finalize the transactions.
PA GE 16 S TRENGTH | E X P ER TISE | SERV ICE